By Ka Kay Lum
Vertex Ventures has acquired $5 million worth of common shares of Reebonz Holding Limited (RBZ), the entity created after the merger of Singapore’s Reebonz with US-based DOTA.
Carousell has appointed Su Lin Tan, and former RedMart COO Colin Bryar as vice president of operations and advisor, respectively.
The startup claims the additional pre-Series A sum raised would enable it to become cash flow positive by April 2019.
Carmen aims to raise its Series A round in the next 12 months on the back of strong investor interest.
Tan Huck Khim, a former Credit Suisse fund management executive, joined Fullerton in December as its Head of Private Equity.
The group seeks to raise invest the IPO proceeds to fund a new park in China’s Shandong province apart from expanding its existing theme park operations.
In November 2018, Temasek announced a minority stake acquisition of Aerogen through the purchase of a secondary share interest.
In May last year, Artivision had announced entering into a conditional sales purchase agreement to acquire MC Payment for a consideration of up to S$125 million ($94 million).
The VC firm closed its maiden fund at $360 million in 2018.
The island-wide roll-out is part of its continued beta phase for Singapore, which started in November.